San Francisco - Bleacher Report, a community-driven online sports network, on Tuesday announced its official launch, and said it has raised a first round of funding led by Hillsven Capital.

Other investors included Transcoast Capital, Vimeo founder Jakob Lodwick, and several other individuals; the company will use the funds to add new features such as video and podcasting.

San Francisco-based Bleacher Report allows sports fans to create profiles, and post commentary, using a Wikipedia-like peer-editing system and automatic filters to highlight the best submissions.

Existing bloggers can also use the site as a syndication tool.

The company said that during several months of beta testing, the site attracted more than 400,000 monthly unique visitors, and saw 2,000 original sports editorials published per month.

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http://www.bleacherreport.com